Silvercrest Asset Management Group (NASDAQ:SAMG) Lowered to "Buy" Rating by StockNews.com

StockNews.com lowered shares of Silvercrest Asset Management Group (NASDAQ:SAMG - Free Report) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday.

Silvercrest Asset Management Group Price Performance

Silvercrest Asset Management Group stock traded down $0.22 during trading hours on Tuesday, hitting $17.19. The company had a trading volume of 18,393 shares, compared to its average volume of 25,369. Silvercrest Asset Management Group has a one year low of $13.93 and a one year high of $19.20. The firm has a 50-day moving average of $18.19 and a 200 day moving average of $17.58. The firm has a market cap of $238.34 million, a PE ratio of 21.49 and a beta of 0.82.

Silvercrest Asset Management Group (NASDAQ:SAMG - Get Free Report) last released its quarterly earnings results on Thursday, March 6th. The asset manager reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.33 by ($0.13). Silvercrest Asset Management Group had a return on equity of 11.40% and a net margin of 6.24%. The business had revenue of $31.96 million for the quarter, compared to the consensus estimate of $31.97 million.

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Silvercrest Asset Management Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 14th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.65%. Silvercrest Asset Management Group's payout ratio is 100.00%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC grew its stake in Silvercrest Asset Management Group by 4.9% during the third quarter. Geode Capital Management LLC now owns 223,418 shares of the asset manager's stock worth $3,852,000 after buying an additional 10,477 shares in the last quarter. Barclays PLC lifted its holdings in shares of Silvercrest Asset Management Group by 48.8% during the 3rd quarter. Barclays PLC now owns 30,814 shares of the asset manager's stock worth $531,000 after acquiring an additional 10,110 shares during the period. Jane Street Group LLC boosted its position in shares of Silvercrest Asset Management Group by 55.6% during the 3rd quarter. Jane Street Group LLC now owns 20,030 shares of the asset manager's stock worth $345,000 after acquiring an additional 7,155 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Silvercrest Asset Management Group by 80.8% in the third quarter. JPMorgan Chase & Co. now owns 20,605 shares of the asset manager's stock valued at $355,000 after acquiring an additional 9,209 shares during the last quarter. Finally, Royce & Associates LP raised its position in Silvercrest Asset Management Group by 6.6% during the third quarter. Royce & Associates LP now owns 586,300 shares of the asset manager's stock valued at $10,108,000 after purchasing an additional 36,063 shares in the last quarter. Institutional investors own 47.59% of the company's stock.

About Silvercrest Asset Management Group

Silvercrest Asset Management Group Inc, a wealth management firm, provides financial advisory and related family office services in the United States. The company serves ultra-high net worth individuals and families, as well as their trusts; endowments; foundations; and other institutional investors.